Lam Research Co. (NASDAQ:LRCX) Stake Lessened by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,354 shares of the semiconductor company’s stock after selling 2,600 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Lam Research were worth $6,686,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LRCX. We Are One Seven LLC bought a new stake in shares of Lam Research in the 4th quarter worth $26,000. Berman Capital Advisors LLC bought a new stake in shares of Lam Research in the 4th quarter worth $26,000. Duncker Streett & Co. Inc. grew its stake in shares of Lam Research by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. FTB Advisors Inc. grew its stake in shares of Lam Research by 72.0% in the 4th quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 90 shares in the last quarter. Finally, Csenge Advisory Group bought a new stake in shares of Lam Research in the 3rd quarter worth $35,000. Institutional investors and hedge funds own 88.46% of the company’s stock.

In other Lam Research news, insider Patrick J. Lord sold 9,177 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $185.00, for a total transaction of $1,697,745.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kevin Jennings sold 7,016 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $177.35, for a total transaction of $1,244,287.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,125 shares of company stock worth $6,772,290. Insiders own 0.44% of the company’s stock.

LRCX has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Lam Research from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. KeyCorp increased their price target on shares of Lam Research from $223.00 to $236.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Royal Bank of Canada upgraded shares of Lam Research from a “sector perform” rating to an “outperform” rating and set a $190.00 price target for the company in a research report on Tuesday, January 29th. Needham & Company LLC increased their price target on shares of Lam Research from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Mizuho restated a “hold” rating on shares of Lam Research in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $224.78.

NASDAQ LRCX traded down $0.73 during trading on Friday, hitting $197.90. 1,745,990 shares of the company’s stock traded hands, compared to its average volume of 1,767,287. The company has a market cap of $29.78 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 1.15 and a beta of 1.57. Lam Research Co. has a 12-month low of $122.64 and a 12-month high of $209.92. The company has a quick ratio of 2.79, a current ratio of 3.37 and a debt-to-equity ratio of 0.71.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.38 by $0.32. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Lam Research had a net margin of 25.64% and a return on equity of 46.66%. The company’s revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.79 earnings per share. As a group, equities research analysts anticipate that Lam Research Co. will post 14.33 EPS for the current year.

Lam Research announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 23rd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 23% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Wednesday, June 12th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, June 11th. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.

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About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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